Pernod Ricard: Stifel lowers target price
(CercleFinance.com) - While maintaining its 'Hold' recommendation on Pernod Ricard shares, Stifel has lowered its target price for them from E160 to E152, believing that, like its peer Diageo, the group will probably take at least another year to get back on (a medium-term) track.
In a difficult sector, the unsurprising 2024 results came as a relief despite management's cautious quarterly targets, but the major catalyst for the share price was China's decision not to increase its duties on cognac - for now, the broker notes.
News of the anti-dumping investigation in China misled investors, leading to high price volatility. Cognac players are not out of the woods yet, and Pernod has warned of another difficult year in China, it continues.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
In a difficult sector, the unsurprising 2024 results came as a relief despite management's cautious quarterly targets, but the major catalyst for the share price was China's decision not to increase its duties on cognac - for now, the broker notes.
News of the anti-dumping investigation in China misled investors, leading to high price volatility. Cognac players are not out of the woods yet, and Pernod has warned of another difficult year in China, it continues.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.